Chinese company NIO is preparing to launch a new electric SUV under its Onvo brand, a proposal that is “much more competitive” than its rivals. After the introduction of the Onvo L60 in October, which is sold from $21,000 ( 149,900 yuan ) in its battery subscription version, the company is looking to strengthen its presence in the electric vehicle market by 2025.
The competitive Onvo L60 electric SUV
The L60 has managed to overshadow competitors like the Tesla Model Y , which starts at $35,000 ( 249,900 yuan ) in China. Although the battery-included version of the L60 is priced at $29,000 ( 206,900 yuan ), the model has been a remarkable performer, recording 832 units delivered in just three days. , with its low price and flexible options
According to NIO CEO William Li, Onvo’s second electric SUV will be an even bigger boost to the brand’s sales, with plans to debut by the end of the first quarter of 2025. He further expects this model, a mid-to-large SUV with six- and seven-seat options, to have a starting price of $42,100 ( 300,000 yuan ).
The success of the L60 has helped NIO maintain its monthly sales figures above 20,000 units for five consecutive months. Still, anticipation for the next launch remains very high. “ If you think the Onvo L60 is good, then this new model is a much more competitive product ,” Li stressed.
Onvo’s strategy includes launching new models annually, and aims to diversify the offering in a price range of $20,000 to $31,000. Moreover, the company expects these models to contribute to growth, and a sedan is already anticipated to complement the vehicle lineup in the second half of 2025.
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Source and photo : NIO
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